Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please show work Hiram's Lakeside is a popular restaurant located on Lake Washington in Seattle. The owner or the restaurant has been tying to better
please show work Hiram's Lakeside is a popular restaurant located on Lake Washington in Seattle. The owner or the restaurant has been tying to better understand costs at the restaurant and has hired a student intern to conduct an activity-based costing study. The intern, in consultation with the owner, identified three major activities and then completed the first-stage allocations of costs to the activity cost pools. The resuits appear below. The above costs include all of the costs of the restaurant except for organization-sustaining costs such as rent, property taxes, and topmanagement salanles Some costs, such as the cost of cleaning the inens that cover the restaurant's tables, vary with the number of parties served other costs, such as washing plates and glasses, depend on the number of diners served or the number of drinks served Prior to the activity based costing study, the owner knew very ittive about the costs of the restaurant she knew that the total cost for the month including organization-sustaining costs) was $180,000 and that 12.000 daners had been served. Therefore, the average cost per diner was $15 Requited: 182. According to the activity-based costing system, what is the totat cost and average cost per diner for serving each of the following partes of diners? (Round your intermedlate coiculations to 2 decimai places. Round your Totol Cost final answers to 2 decimal ploces and your Average Cost finel onswers to 3 decimal pleces.)
please show work
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started